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Eliminating Second Mortgages in Chapter 7

The Eleventh Circuit Court of Appeals recently ruled that a chapter 7 debtor could strip a second and third mortage off their homestead property. Prior to this decision, debtors could only strip second and third mortages in chatper 13, which meant you would have to be in a payment plan for 3-5 years. Now it.. read more →

Bankruptcies Decline

The following aarticle appeared in the June 17, 2011 issue of the Jacksonville Daily Record by Karen Brune Mathis Managing Editor Bankruptcy filings are down the first five months of the year in the U.S. Bankruptcy Court Middle District of Florida and the Jacksonville Division from last year’s record rate, although the final numbers might close.. read more →

JAX Foreclosures Fall

Jacksonville Business Journal – by Ashley Gurbal, Staff writer April 14, 2011 Foreclosures in the Jacksonville metro area fell 50 percent year over year in the first quarter, according toRealtyTrac. Duval, Clay, St. Johns and Baker counties had a combined 3,900 foreclosures in the first quarter. That number includes properties receiving first notices, those sold.. read more →

Jacksonville-area bankruptcies hit a record high

The following artcile written by Kevin Turner was published on May 4, 2010 in the Jacksonville Times Union. Jacksonville area bankruptcy filings in March hit the highest level in more than four years, and local bankruptcy attorneys say it could get worse this year before it gets better. According to U.S. Bankruptcy Court records for.. read more →

Bankruptcy Filings on the Rise in Jacksonville

The following article was featured on First Coast News on March 10, 2010. Len Keise – Taren Reed JACKSONVILLE, Fla. — If you find yourself living paycheck to paycheck, you aren’t alone. The number of people unable to pay their bills is growing. For some, the only way out they see is bankruptcy. In his.. read more →

Obtaining Credit After Bankruptcy, is Chapter 7 or Chapter 13 Better?

Many clients worry about obtaining loans or an extension of credit after bankruptcy.  Most clients are under the impression that Chapter 13 is “better” and that creditors will look more favorably upon them after a bankruptcy if they filed under Chapter 13 instead of Chapter 7.  Many know that Chapter 13 involves repaying at least a portion of total debt.. read more →

Guideline’s posted for Obama’s Making Homes Affordable

On March 4, 2009, the U.S. Department of the Treasury issued a summary of the guideliens for Obama’s Making Homes Affordable. According to the release: “The Home Affordable Refinance program will be available to 4 to 5 million homeowners who have a solid payment history on an existing mortgage owned by Fannie Mae or Freddie.. read more →

Helping Families Save Their Homes Act of 2009 (HR1106)

According to an article published in the Congressional Quarterly on February 23, 2009, the Helping Families Save Their Homes Act of 2009 may soon be on the floor of the House or Representatives. It was written that Speaker Nancy Pelosi intends to introduce HR 1106 which, among other things, would allow the bankruptcy court to.. read more →

Homeowners facing foreclosure may soon find real relief.

In the wake of declining home values and rising foreclosures rates, two proposed bills, H.R. 200 (House of Representatives) and S.61 (Senate), may offer qualifying homeowners some real relief.  The legislation, entitled “Helping Families Save their Homes in Bankruptcy Act of 2009,” would amend key provisions of chapter 13 bankruptcy laws to permit the modification.. read more →

Behind on your mortgage? Know your options.

It’s no secret that the combination of sky rocketing gas and food prices, high unemployment, and poor consumer confidence, together with the proliferation of adjustable rate mortgages, interest only loans, “pick-a-payment loans”, and tumbling real estate values have caused mortgage foreclosures to climb at an alarming rate. While other parts of Florida have been hit.. read more →